A 61-year-old Chinese tycoon battling terminal lung cancer has sparked controversy by transferring his entire fortune of 300 million yuan (approximately 660 billion won, or $46 million) to his wife in her 30s.
Hou, 61, from China's southern Hainan island, announced he would transfer all his assets to his wife Li Yuan, 33, Hong Kong's South China Morning Post (SCMP) reported Sunday. The couple married 10 years ago and have a five-year-old son.
Li Yuan first met Hou while working as an accounting assistant at his logistics company. Hou, who was divorced at the time, actively pursued her. However, Li Yuan — from a migrant worker family with a gambler father — initially hesitated due to their 28-year age gap, the report said. When the couple married, Hou's children from his previous marriage demanded Li Yuan sign a prenuptial agreement out of concern that their inheritance would be reduced. She agreed.
The situation changed after Hou was diagnosed with lung cancer last year. Hou said his wife had been his "emotional pillar" throughout his battle with the disease and that he wanted to "ensure the livelihood of my wife and young son after I'm gone." He transferred all assets into Li Yuan's name.
"This was my husband's own decision, and our relationship is built on love, not money," Li Yuan said. "People said our marriage was a house built on sand, but my husband has been with me from my immature days through my growth into who I am now. He gave me the greatest love a man can give a woman," she added.
Hou's ex-wife and children from his previous marriage are reportedly pushing back strongly against the decision. Meanwhile, some online commenters have expressed support for the couple, saying "it is right to leave an inheritance to the person who actually took care of you."